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SB282: Enacting the Kansas retirement investment and savings plan (KRISP) act and establishing terms, conditions, requirements, membership elections, accounts, benefits, contributions and distributions related to such plan.
IntroducedSenate
Introduced
In Committee
Passed Chamber
Passed Both
Signed
Plain-Language Summary
This bill creates a new retirement investment and savings plan for certain Kansans. The plan would allow eligible individuals to contribute a portion of their income towards retirement.
Who This Affects
The plan would primarily affect state employees, including those in the public education system, who are currently not offered a retirement savings option. This could help them prepare for retirement more effectively.
Key Provisions
• The plan would be available to certain state employees and possibly other eligible individuals. • Contributions would be made on a pre-tax basis, reducing taxable income. • Participants would have control over their investment choices and accounts. • The plan would offer benefits such as employer matching contributions and tax-deferred growth.
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Timeline
Introduced
Thursday, February 27, 2025
Last Action
Senate Hearing: Thursday, March 13, 2025, 9:30 AM Room 546-S
Mar 12, 2025
Sponsors
No sponsors listed.
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